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London’s data-driven designer shopping platform Lyst raises $40m

London-based fashion ecommerce platform Lyst has raised $40m in a Series C round of funding led by the largest shareholder in the Louis Vuitton brand, Groupe Arnault.

Lyst brings together more than 11,000 designers from across the world into one place for users to browse and buy, with an average order value of $400. The company also analyses data generated by its users, 4.5m data points per hour, to understand shopper behaviour and improve its service.

It has facilitated sales in 154 countries and has seen total sales grow from $40m last year to $150m today. The company will use the money to rollout a ‘universal cart’, to ensure anyone anywhere can shop with Lyst.

Groupe Arnault, which has already made a number of investments in tech, including in mobile shopping platform Spring, was joined in the round by Facebook investors Accel Partners, Balderton Capital, 14W, DFJ Espirit and a New York-based hedge fund.

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